Delco man charged with theft in alleged mortgage scheme

Posted: September 04, 2014

A Delaware County man has been charged with theft after he allegedly lured homeowners into paying thousands of dollars on the promise he would help renegotiate their mortgages, the District Attorney's Office announced Tuesday.

Adolfo Vazquez, 41, of North Ridgeway Avenue in Glenolden, has been charged with theft, receiving stolen property, and related crimes.

He was arrested Aug. 18 and remanded to the Delaware County jail after being unable to post 10 percent of $25,000 bail.

According to court documents, in September 2012 Tinicum Township police received a complaint about Vazquez, owner of Alliance Mortgage Protection.

They referred the case to the District Attorney's Office.

Vazquez told police he ran forensic audits for clients to help them "get out of foreclosures on their property," according to court documents.

Police were called by neighbors who reported that Vazquez removed documents from the trunk of his car and lit them on fire after investigators left the property.

Vazquez had failed to produce any documents requested by police, according to court documents.

Four alleged victims told a similar story.

They met with Vazquez, paid him up to $3,000, and provided him with personal information to try to obtain favorable loan restructuring with their mortgage companies. Vazquez allegedly failed to provide the victims with documents or paperwork, according to court documents.

In one case, Vazquez told a victim to stop making payments on his mortgage and home equity loan and to ignore calls from the banks.

The victim began making payments after the bank attempted to repossess his car, according to court documents.


mschaefer@phillynews.com

610-313-8111

@MariSchaefer

comments powered by Disqus
|
|
|
|
|